In focus Carbon capture and storage (CCS)

Shell continues to work with governments, customers and partners to unlock the potential for CCS to reduce emissions where there are currently few viable low-carbon alternatives.

In 2022, Shell's spending on CCS opportunities (operating expenses and cash capital expenditure) amounted to around $220 million, an increase of 51% from the $146 million invested in 2021. Shell’s equity share of captured and stored CO₂ was around 0.4 million tonnes in 2022, in line with the 2021 amount.

In Norway, our Northern Lights CCS joint venture (Shell interest 33%) signed a letter of intent on cross-border CO₂ transport and storage in August. Under this agreement, some 800,000 tonnes of CO₂ will be captured, compressed and liquefied at a Yara ammonia and fertiliser plant in the Netherlands from early 2025. The CO₂ will then be transported to Norway for permanent storage 2,600 metres below the seabed in the North Sea. In November 2022, construction started on the first two ships that will be used to transport CO₂ to the Northern Lights facilities.

We are making progress in other CCS projects in our portfolio. In Canada, for example, the Alberta government selected the Atlas Sequestration Hub (with Shell as 50% partner) to move to the next stage for further evaluation in April 2022.

CCS is part of our Renewables and Energy Solutions business segment.

Read more about CCS on our website: https://www.shell.com/energy-and-innovation/carbon-capture-and-storage